GAP (NYSE:GPS) Updates FY 2021 Earnings Guidance

GAP (NYSE:GPS) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.250-$1.400 for the period, compared to the Thomson Reuters consensus estimate of $2.200. The company issued revenue guidance of $16.56 billion-$16.56 billion, compared to the consensus revenue estimate of $17.72 billion.GAP also updated its FY22 guidance to $1.25-1.40 EPS.

Shares of NYSE:GPS traded down $5.67 during trading on Thursday, hitting $17.84. 55,080,227 shares of the company traded hands, compared to its average volume of 7,259,341. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.92 and a beta of 1.67. The business’s fifty day moving average is $23.56 and its 200-day moving average is $27.95. GAP has a one year low of $17.71 and a one year high of $37.63. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.74.

GAP (NYSE:GPS) last released its quarterly earnings data on Tuesday, November 23rd. The apparel retailer reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). GAP had a net margin of 4.53% and a return on equity of 24.45%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts forecast that GAP will post 2.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Stockholders of record on Wednesday, January 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, January 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.69%. GAP’s dividend payout ratio is currently 24.49%.

A number of research firms have issued reports on GPS. Credit Suisse Group reduced their target price on shares of GAP from $31.00 to $20.00 and set a neutral rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on GAP from $43.00 to $29.00 and set a buy rating for the company in a report on Wednesday. Bank of America cut their target price on GAP from $32.00 to $26.00 and set a neutral rating on the stock in a research note on Wednesday. Citigroup decreased their price target on GAP from $32.00 to $25.00 and set a neutral rating for the company in a research note on Friday, October 22nd. Finally, Telsey Advisory Group cut their price objective on shares of GAP from $33.00 to $24.00 and set a market perform rating on the stock in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, GAP has a consensus rating of Hold and a consensus target price of $26.53.

In other GAP news, CEO Sonia Syngal sold 6,945 shares of GAP stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $24.71, for a total value of $171,610.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 41.39% of the company’s stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

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Earnings History and Estimates for GAP (NYSE:GPS)

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